Electric vs Gas Car Cost Comparison
Compare what an electric car and a gas car really cost you over the years you keep them: purchase, sales tax, financing, charging at home and in public, gas, maintenance, insurance, registration and resale value. See the cost per mile, the year the EV pays back its higher price, the gas price where both cost the same and the CO₂ difference.
Prices are examples – enter your own quotes, gas price and electricity rate. The federal new EV credit is not available for cars acquired after Sept. 30, 2025.
- 1How you drive
- 2Both cars’ costs
- 3Compare & what-if
Where the money goes
Cost of ownership year by year
What if prices change?
Carbon dioxide from driving
How it is calculated
Using Electric vs Gas Car Cost Comparison
Find out whether an electric car would cost you less than a gas car over the years you plan to keep it. Enter both cars’ prices and running costs, how much you drive, your gas price and electricity rate; the comparison adds purchase, sales tax, financing, charging or fuel, maintenance, insurance and registration, subtracts resale value, and shows the total, the cost per mile, the payback year, the gas price at which both cost the same and the CO₂ from driving.
- In Driving, enter your miles per year, how many years you will keep the car and your sales tax rate.
- In Electric, enter the EV price, any state or utility rebate, its efficiency from fueleconomy.gov and how you will charge it.
- In Gas, enter the gas car’s price, MPG and your local gas price, plus insurance and maintenance for both cars.
- In Loan, turn on financing if you will borrow, and adjust the grid CO₂ figure for your area.
- Read the headline and Breakdown, check Over time and What if for different prices and mileage, then download the PDF or CSV.
Example
A $42,000 EV (30 kWh/100 mi, 85% home charging at 17¢) against a $33,000 gas car (30 MPG at $3.20) over 8 years and 12,000 miles a year: the EV saves about $430 a year on energy but costs about $4,900 more overall, because of the higher price and lower resale value. It breaks even if gas averages about $4.62 a gallon. Driving 20,000 miles a year or getting a $4,000 state rebate can change the winner. Check the What if tab.
Questions & answers
Is an electric car cheaper than a gas car?
It depends on the price difference, how much you drive, your electricity and gas prices and resale value. Energy and maintenance are usually cheaper for an EV, but a higher purchase price can outweigh the savings, especially if you drive little.
How much does it cost to charge an electric car per mile?
Divide the car’s kWh per 100 miles by 100, add charging losses and multiply by your electricity price. An EV using 30 kWh/100 mi charged at home at 17¢/kWh with 10% losses costs about 5.7¢ a mile; public fast charging can cost three times as much.
Is there still a federal tax credit for electric cars?
No. The IRS says the new clean vehicle credit is not available for vehicles acquired after September 30, 2025. Some states and utilities still offer rebates; enter them in the Electric tab.
What gas price makes an EV worth it?
The comparison shows the break-even gas price: the price at which both cars cost the same over your ownership period, keeping all your other inputs the same.
Does it include financing?
Yes. Turn on the loan in the Loan tab to include interest on both cars with the same down payment, rate and term.
How is CO₂ calculated?
Gas uses the EPA figure of 8,887 grams of CO₂ per gallon. Electric uses the energy drawn from the outlet times your grid’s grams per kWh. Emissions from making the car and battery are not included.
Where do the default prices come from?
They are examples only. Use real quotes, the MPG and kWh/100 mi ratings from fueleconomy.gov, your local gas price and the rate on your electricity bill.
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